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greka drilling ltd-di (GKDLF) Details

Greka Drilling Limited, an investment holding company, provides coal bed methane drilling services in the People’s Republic of China. Its drilling fleet comprises purpose-built hydraulic top-drive rigs for the application of drilling services within the unconventional gas industry. The company was founded in 2007 and is headquartered in Zhengzhou, the Peoples Republic of China.

greka drilling ltd-di (GKDLF) Key Developments

Greka Drilling Limited has provided an operations update to 31 December 2014. The company has provided 45 wells drilled in 2014 against 50 wells in 2015, of which: 38 wells drilled in China, 7 directional wells drilled in India, 18 wells drilled (40%) for Green Dragon Gas Ltd. and 27 wells drilled (60%) for other clients. For 26 wells drilled in the second half of 2014, an 8% increase over the same period in the last year against 24 wells in the second half of 2013, of which: 19 drilled in China and 7 directional wells drilled in India. Total of 58,520 million drilled in 2014, a 17% decrease over 2013 against 70,439 million a year ago, of which: 49,630 million drilled in China and 8,890 million drilled in India. For 28,470 million drilled in China in the second half of 2014, a 12% decrease over 2013 against 32,570 million for the second half of 2013. 13,442 man-hours of training were conducted in China for the second half of 2014, and a total of 21,291 man-hours in 2014; 6,764 man-hours of training conducted in India during the second half of 2014 and zero lost time injury/incidents recorded in 2014. The pace and quality of operational improvements were tangible in India as the equipment and crews became acquainted with the formations and drilling programmes.
The company also announced operational outlook for 2015. In China, 30 LiFaBric wells for Green Dragon Gas and up to 10 rigs utilized. In India, 93 wells for Essar Oil Ltd. and 5 rigs utilized. New contracts expected within China and India and decision on expansion into new geography. The beginning of 2015 is expected to bring an increased volume of activity over the first, and in particular, the second quarter - when the majority of the newly awarded 30 LiFaBriC wells from Green Dragon Gas will commence.

Green Dragon Gas Ltd. Places a New Work Order with Greka Drilling Limited

Jan 7 15

Green Dragon Gas Ltd. announced that, as part of its previously stated plan to drill 150 wells at Greka Shizhuang South production block (GSS), it has placed a new work order with Greka Drilling Limited, under the companies' evergreen contract, to drill an initial 30 LiFaBriC wells. The estimated value of the order is approximately $45 million. Green Dragon continues to work on drilling plans, permits and locations for the additional wells to be funded by the November 2014 Bond Issue proceeds, and will provide a further update on these following the conclusion of the current order.

Greka Drilling Limited announced the award of further drilling work under the evergreen contract with its Green Dragon Gas Ltd. A new Work Order under the evergreen Master Drilling Contract, between Green Dragon Gas Ltd. and Greka Drilling, for 30 new LiFaBriC wells in the Shizhuang South (GSS) block in Shanxi Province of China, has been signed between the two parties. The new well sites are under preparation and rigs and manpower are under mobilization. The Company expects to commence this programme in January 2015, utilizing up to 10 existing GD75 rigs.

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